Look at the following typical business transactions and work out which accounts are involved in each transaction. In every case, think what has happened and decide which account has received value (the account to be debited) and which account has given value (the account to be credited).

Complete the blank spaces by inserting the name of the account to be debited and the name of the account to be credited for each transaction:

(a) Bought goods on credit from R Sykes

(b) Sold goods and received cash immediately Ji/c •

(c) Sold machinery and received a cheque immediately

(d) Bought goods, paying in cash

(e) Sold goods on credit to J Cook

(f) Sold goods, a cheque was received immediately